Posted on 11/17/2009 8:37:25 AM PST by grayhog
China built a city for 1 million people and nobody moved in. This is an amazing video. Guess they might have some problems with their stimulus programs too!
I’m surprised they have not “forced” people to move there.
That is an amazing story. Wonder what it would cost to retire there (i.e. monthly)?
“No one wants to live in a city where there is no economy.”
The best part was at the end of the video with the traffic cop standing in an empty & desolate downtown intersection...and a lone little motorscooter putputs by...
Fascinating. The combined effects of Communist central planning and a Keynesian stimulus bill much like Pelosi’s.
A rather graphic example of why Jim Chanos (famous hedge fund operator and “short” expert) is shorting China. Cities with no people, shopping centers with no stores or customers, cars being purchased but no increase in gasoline consumption.
This is what happens when your economy becomes completely state-driven and managed.
Call me “worried about the future.”
Al_Jazeera, really?
Government spending should be subtracted from GDP.
looks like crystal city after 5pm
and hey... they built the whole thing in 5 years?! goes to show how far we have fallen
I believe the capital of Brazil started off this way. IIRC, it was a planned city, intended to be the nation’s capital, and built from scratch in the mid-20th century. I believe it took a long time for the population to rise to the expected level, although today it is well populated and thriving.
That city looked every bit as nice as one in the west.
It only take a population of one million to qualify as a city in China? Who knew?
The most ambitious version of ‘SimCity’ ever created.
They should fill it with thousands of those awesome clay figures.
first rule of real estate:
location, location, location!
This jives with my recent trip to Shanghai and the surrounding communities. The building is relentless, but the western-style suburbs are ghost towns. We stayed in a 40 story building within a block of the major freeway heading into the Bund and it was 70% vacant. Two newer builings that we could see from our window were >90% vacant and had been there for ~10 years. Chinese real estate is a bubble waiting to explode.
Hmmm. I wonder if China would be happy if a bunch of middle-east muslims bought the houses and offices and moved in.
Absolutely; it's a fascist oligarchy. In most measures, the US is more Communist than China!
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